Cryptocurrency exchange Coinbase completed its acquisition of Deribit, the largest crypto options trading platform by global trading volume, further enriching its digital asset business portfolio.
Deribit's trading volume exceeded $1 trillion in 2024, attracting 'loyal' institutional and seasoned traders, Coinbase stated on Thursday.
In May of this year, Coinbase agreed to acquire Deribit for $2.9 billion as part of its international expansion strategy.
The exchange continues to expand its business to serve the diverse needs of the cryptocurrency field, providing perpetual contract platforms, prime brokerage services, spot retail trading platforms, institutional lending services, and client asset custody, striving to become a one-stop service provider for cryptocurrencies.
Coinbase has acquired five companies by 2025.
By 2025, Coinbase has acquired five companies, including Deribit, continuing to expand and diversify its services.
The company announced in January the acquisition of Spindle, a blockchain-based advertising platform that helps content creators increase online exposure.
In the same month, Coinbase acquired the blockchain-based online browser team Roam.
Coinbase acquired the Liquifi platform, which primarily manages early-stage tokens, in July.
Other crypto exchanges and brokers are expanding their business.
Major cryptocurrency exchanges are further expanding into adjacent business areas by providing digital asset services.
Kraken announced in May the launch of tokenized stock trading for non-U.S. residents, entering the tokenized securities market.
The exchange also offers crypto futures trading, asset custody, staking, and over-the-counter services.
Brokerage platform Robinhood offers customers mixed asset trading services, blurring the lines between traditional financial services and digital finance.
The company announced in June the launch of a Layer-2 blockchain for tokenized stock trading for European customers.
The largest exchange by global trading volume, Binance also offers retail and institutional services, including options, futures trading, and token issuance platforms. Since 2018, this exchange has been acquiring crypto wallet providers, blockchain development teams, other crypto exchanges, and analytics platforms.